Oil Prices Fall As U.S. Rig Count Rises For 20th Straight Week http://betiforexcom.livejournal.com/24407360.html The number of active oil and gas rigs in the United States rose for the twentieth straight week, Baker Hughes reported on Friday—this time by 8, as drillers in the US make do with current barrel prices even below $50. The number of oil rigs in operation increased by 11, while gas rigs decreased by 3. Combined, the total oil and gas rig count in the US now stands at 916 rigs—more…
The price of #wti climbed to a new 2-year high yesterday and during today’s Asian morning after an unexpected US oil production drop. Specifically, media reported that last week’s US oil production was reduced by about 35M barrels tightening the oil market. #usdcad | Econ Alerts
Leon Mill spray-paints a sign outside his Phillips 66 station in Perkasie, Pa., in 1973 to let his customers know he's out of gas. An oil crisis was the culprit, squeezing U. businesses and consumers who were forced to line up for hours at gas stations.
Crude oil futures were trading unchanged during noon trade in the domestic market on Tuesday as traders weighed comments from the IEA which warned of a slow recovery in global oil prices and heavy investment cutbacks in the industry.
Oil futures edged lower overnight as traders eyed ample global supplies, including record-high US inventories. Prices plunged nearly 50 per cent in 2014 and have continued to drop sharply this year.
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Oil prices were back up Monday, despite forecasts that we could see the price of crude drop to as little as $40 dollars a barrel. Today the January crude contract on the New York Mercantile Exchange rose $2.85 to $69 U.S. a barrel. But that small gain couldn't stop the losses on the TSX, which fell more than 100 points for the third day in a row. However, the lower cost for oil should be good news for consumers, at least for now. Late this afternoon, gas prices in the Hamilton area were ...